Combined assurance – the role of risk management

The Institute of Internal Auditors recently published their new version of the three lines of defense model, and renamed it as the Three Line Model.

This model changes the layout of the previous model significantly.  In short the role of risk management includes to:

1. Provide complementary expertise, support, monitoring, and
2. Challenge the management of risk, including:
   1. The development, implementation, and continuous improvement of risk management practices (including internal control) at a process, systems, and entity level.
   2. The achievement of risk management objectives, such as: compliance with laws, regulations, and acceptable ethical behavior; internal control; information and technology security; sustainability; and quality assurance.
3. Provide analysis and reports on the adequacy and effectiveness of risk management (including internal control).

This one hour CPD course explores how this should be done in practice, and has a specific focus on local government.  It is a practical exercise and not  theoretical guidance.